Laurent Massuyeau, Head of Business Development, Resigns

Geneva, Switzerland, 17 September 2009 - Addex Pharmaceuticals
announces the resignation of Laurent Massuyeau, head of business
development and member of the executive management, effective today.

CEO Vincent Mutel said, "We thank Mr. Massuyeau for his efforts."

Addex Pharmaceuticals (www.addexpharma.com) discovers and develops
allosteric modulators for human health. Allosteric modulators are a
different kind of orally available small molecule therapeutic agent,
which we believe will offer a competitive advantage over classical
drugs. Our lead allosteric modulator product, ADX10059, has achieved
clinical proof of concept and is in Phase IIb testing for the
treatment of GERD and, separately, migraine headache. ADX10059 is a
first-in-class mGluR5 inhibitor, a therapeutic strategy that also is
being pursued in multiple indications by large pharma competitors.
Our products and technology already have proven their value through
our relationships with four of the top 10 pharmaceutical companies in
the world. Specifically, under an agreement with Ortho-McNeil-Janssen
Inc., a Johnson & Johnson company, ADX71149, a positive allosteric
modulator (PAM) of mGluR2, is undergoing Phase I clinical testing and
has potential for treatment of schizophrenia and anxiety. Under two
separate agreements with Merck & Co., Inc., we are developing PAMs of
mGluR4 and mGluR5 as drugs to treat Parkinson's disease and
schizophrenia, respectively. In addition, GlaxoSmithKline and Roche
have made equity investments in Addex.

Chris Maggos
Head of IR & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos@addexpharma.com

Disclaimer
The foregoing release contains forward-looking statements that can be
identified by terminology such as "not approvable", "continue",
"believes", "believe", "will", "remained open to exploring", "would",
"could", or similar expressions, or by express or implied discussions
regarding Addex Pharmaceuticals Ltd, its business, the potential
approval of its products by regulatory authorities, or regarding
potential future revenues from such products. Such forward-looking
statements reflect the current views of Addex Pharmaceuticals Ltd
regarding future events, and involve known and unknown risks,
uncertainties and other factors that may cause actual results with
allosteric modulators of mGluR4, mGluR2, mGluR5 or other therapeutic
targets to be materially different from any future results,
performance or achievements expressed or implied by such statements.
There can be no guarantee that allosteric modulators of mGluR4,
mGluR2 or mGluR5 will be approved for sale in any market or by any
regulatory authority. Nor can there be any guarantee that allosteric
modulators of mGluR4, mGluR2, mGluR5 or other therapeutic targets
will achieve any particular levels of revenue (if any) in the future.
In particular, management's expectations regarding allosteric
modulators of mGluR4, mGluR2, mGluR5 or other therapeutic targets
could be affected by, among other things, unexpected actions by our
partners, unexpected regulatory actions or delays or government
regulation generally; unexpected clinical trial results, including
unexpected new clinical data and unexpected additional analysis of
existing clinical data; competition in general; government, industry
and general public pricing pressures; the company's ability to obtain
or maintain patent or other proprietary intellectual property
protection. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those anticipated, believed,
estimated or expected. Addex Pharmaceuticals is providing the
information in this press release as of this date and does not
undertake any obligation to update any forward-looking statements
contained in this press release as a result of new information,
future events or otherwise.

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